Lawrence Erik Kurzius Sells 50,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

McCormick & Company, Incorporated Trading Down 1.1 %

Shares of McCormick & Company, Incorporated stock opened at $81.34 on Thursday. The company’s 50-day moving average price is $79.76 and its 200-day moving average price is $78.81. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors and hedge funds have recently modified their holdings of the business. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $30,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $33,000. Ameriflex Group Inc. purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Finally, Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent analyst reports. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.